Parliament approves budget debt restructuring with treasury bills

The Verkhovna Rada approved in the first reading the draft law on amendments to the law on state budget of Ukraine for 2013 (with respect to restructuring of the budget debt. 244 MPs voted for the bill, ForUm correspondent reports.

"We are talking about restructuring the public debt, which was formed as of January 1, 2013, and about introduction of the institute of financial instrument. The draft law provides for granting the Cabinet the right to restructure payables with treasury bills. Their yield will be 5%," the author of the bill MP Valeriy Omelchenko said.

Also, he said, the bill stipulated choice of method of refunding of the value added tax with financial bills from the budget.

In his view, the implementation of the bill will positively influence expenditure of the state budget and will contribute to the effective provision of conditions for the implementation of the financial bill for registration of public debt.